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Musa Alabi started business with a capital of $ 1 0 0 , 0 0 0 on 1 s t January 2 0 2 0

 
  
 
 Musa Alabi started business with a capital of $100,000 on 1st January 2020. The following information was provided as his transactions for the month of January, 2020: 
 
 5th Jan: He purchased goods on credit from Matama $5,000 
 
 8th Jan: He paid cash to Matama receiving a cash discount of 10% 
 
 14th Jan: He sold goods to Samuel +-20,000 
 
 16th Jan: He received cash payment from Samuel less 10% cash discount 
 
 20th Jan: He further purchased goods from MatamaA+20,000 
 
 24th Jan: He paid cash to Matama $10,000 
 
 24th Jan: Paid Rent by Cash N50,000 
 
 27th Jan: Sold goods for cash to Imabong $20,000 
 
 30th Jan: He received cash from Imabong 15,000 
 
 30th Jan: Purchases a Motor Van for the business from Aliko Motors on credit at N100,000 
 
Required:
 
 a. Write up the relevant books of accounts affected 
 
 
 b. Post the transactions to relevant accounts 
 
 
 c. Extract a trial balance as at 31st January 2020 
 
  
 
 
 

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